What do Federal-Mogul Corp., Hayes Lemmerz International Inc. and Valeo SA’s Valeo Electrical Systems Inc. (VESI) unit have in common? They all filed for Chapter 11 bankruptcy protection last year. And they’re not the only suppliers in trouble. According to A.T. Kearney’s sixth annual study analyzing the financial performance of automotive companies, some 36% of the world’s automotive suppliers are threatened by either high debt and/or low liquidity. What’s caused this situation and what ...
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